David Schepp

Chicago

Deputy Editor, Britannica Money at Encyclopaedia Britannica

Deputy editor at Britannica Money

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Articles

Cost of Long-Term Care Insurance

1 month ago | britannica.com | Debbie Carlson |David Schepp

Either way, it's a bit of a gamble. © Nejron Photo/stock.adobe.com, © LRafael/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncIf you’re thinking about who will care for you later in life or how to support an aging parent or relative, long-term care insurance is one way to plan.
What Is Deferred Interest? Credit Cards, Loans, & Rates

1 month ago | britannica.com | Miranda Marquit |David Schepp

Grab a free lunch without getting trapped. © baibaz/stock.adobe.com, © ktsdesign/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncNo-interest financing, often advertised as a 0% annual percentage rate (APR), is a common credit card promotion that lets you make a purchase now and pay it off over time without interest—as long as you qualify and meet the terms. It sounds like a great deal. You avoid interest charges, and spreading out the cost makes the purchase more manageable.
Long-Term Care Insurance: Types, Costs, Pros, & Cons

1 month ago | britannica.com | Debbie Carlson |David Schepp

Planning provides security. © Carlo/stock.adobe.comPaying for costly health care in retirement can add financial stress when you least expect it. Although Medicare covers many health needs, individuals who need assistance with daily living due to aging, a chronic illness, or disability may require additional care. Long-term care insurance is designed to cover such needs.
What Is a Sovereign Wealth Fund? Definition & Examples

1 month ago | britannica.com | David Schepp

Where nations invest their surpluses. © MaxSafaniuk/stock.adobe.com, © enanuchit/stock.adobe.com, © Aris Suwanmalee/stock.adobe.com, © Pornpawit/stock.adobe.com, © nata777_7/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncA sovereign wealth fund (SWF) is a state-owned investment fund that governments use to invest surplus revenues and other financial reserves.
Umbrella Insurance Policy: Coverage, Cost, & Limits

2 months ago | britannica.com | Miranda Marquit |David Schepp

Protection from a perfect storm of lawsuits and liability. © andersphoto/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncIf you’re concerned that your current auto or homeowner’s policy doesn’t have a high enough liability limit to cover the risks you’re exposed to, you might consider umbrella insurance.
Housing Inflation: Home Prices, Rent, & How It’s Calculated

2 months ago | britannica.com | Karl Montevirgen |David Schepp

How housing costs stack up. © Oksana Kuzmina/stock.adobe.com, © Jakub Krechowicz/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncHousing inflation refers to the rising cost of living in or purchasing a home, and it’s a tricky and often misunderstood topic. Contributing to the confusion are numerous reports that measure different aspects of the housing market—home values, rent prices, and material costs, among others—with no standardized formula.
Surrender Charges on Annuities: How They Work

Dec 30, 2024 | britannica.com | Miranda Marquit |David Schepp

Give up surrender charges, not your savings. © Jacob Lund/stock.adobe.com, © Bruno/stock.adobe.com; Photo illustration Encyclopædia Britannica, IncA deferred annuity offers a way to save for the future while building cash value over time. Premiums paid into the annuity grow to provide a predictable income stream during retirement, offering financial security for those looking to lock in stable payments later in life. But accessing your funds early can come at a cost.
Multiyear Guaranteed Annuity (MYGA): Definition, Rates, & Risks

Dec 4, 2024 | britannica.com | Miranda Marquit |David Schepp

One possible way to put time on your side. © apttone/stock.adobe.com, © koya979/stock.adobe.com; Photo illustration Encyclopædia Britannica, Inc. A multiyear guaranteed annuity (MYGA) works similarly to a certificate of deposit (CD), offering a fixed interest rate for a set term—although it often allows more flexibility for withdrawals.
How Medicare Part D Works: Cost, Eligibility, & Enrollment

Nov 13, 2024 | britannica.com | Miranda Marquit |David Schepp

Need drug coverage? The race is on. © Ljupco Smokovski/stock.adobe.com, © nuruddean/stock.adobe.com; Photo illustration Encyclopædia Britannica, Inc. Medicare Part D provides prescription drug coverage for anyone age 65 and older who is enrolled in Medicare. Alongside Part A for hospital expenses and Part B for outpatient services, Part D is an important component of health care for millions of older adults.
Biweekly Mortgage Payments: Benefits, Examples, & Saving

Oct 30, 2024 | britannica.com | Miranda Marquit |David Schepp

Double your payments, shrink your debt. © Kwangmoozaa/stock.adobe.com; Photo illustration Encyclopædia Britannica, Inc. Paying off your mortgage early can save you thousands in interest payments and cancel your debt years ahead of schedule. One of the simplest ways to pay down your mortgage sooner is by making biweekly or bimonthly mortgage payments rather than a standard monthly payment.